Completion of acquisition of Raglan Project

ECR Minerals PLC

30 December 2025

 

30 December 2025

ECR MINERALS PLC

("ECR Minerals", "ECR" or the "Company")

Completion of acquisition of Raglan Project

ECR now owns a turn-key gold mining operation in Queensland

ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce that, further to its previous announcements, it has completed its acquisition of Raglan Resources Pty Ltd, the owner of Licence ML 3665, a fully-permitted and turnkey alluvial gold mining project (the "Raglan Project").  All documentation has been executed and the purchase price of A$1.01 million has been paid to the vendors.

The Raglan Project, which is a fully permitted alluvial gold project and operation located in Queensland, Australia, includes a near-new 60 tonne per hour wash plant, gold room, water supply, accommodation camp, mobile mining fleet and associated site infrastructure (the "Acquisition").

With the Acquisition completed, permitting in place and all key equipment on site, ECR will look to start production in the new year.  Preparations for this are already underway and the Board expects that revenues can be generated in the nearer-term.  The Raglan Project is also planned to provide a stepping stone to assist with operations at ECR's larger Blue Mountain project, accelerating the pathway to production across ECR's wider Queensland portfolio.

ECR's Chairman, Nick Tulloch, commented: "Our acquisition of the Raglan Project marks a decisive moment for ECR and sets the stage for what we believe will be a breakthrough year for the Company. The Raglan Project is a ready-to-run gold mining operation and bringing it into the business positions ECR to move from an explorer to a producer. 

 

"Nearer-term gold production from the Raglan Project is planned to generate revenue for ECR for the first time in the Company's history, aiming to support both ongoing work at Raglan as well as advancing our other projects.  The most important of those is Blue Mountain which, based on acreage, is a potentially far larger project.  The proximity of the two projects will enable us to share plant and equipment and operational expertise across both sites, aiming to enhance the efficiency of both.  We also intend to utilise our A$76 million of tax losses to offset against future production profits.

 

"With the price of gold - and particularly silver - recently pushing to new highs, timing could not be better. Raglan gives us a low-capex route into production, and the cashflows we expect to generate have the potential to advance our high-potential exploration assets, especially the Lolworth project in Northern Queensland, where recent drilling confirmed a gold-silver system.

 

"As we look ahead, 2026 is shaping up to be the year that ECR truly evolves from an explorer into a revenue generating gold producer. We look forward to keeping shareholders fully updated as we execute our plans."

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals Plc	Tel: [phone]
Nick Tulloch, Chairman Andrew Scott, Director	[e-mail]
Website: www.ecrminerals.com
Allenby Capital Limited	Tel: [phone]
Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)	[e-mail]
Axis Capital Markets Limited	Tel: [phone]
Joint Broker
Lewis Jones
SI Capital Ltd	Tel: [phone]
Joint Broker
Nick Emerson
Brand Communications	Tel: [phone]
Public & Investor Relations
Alan Green

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company operating through three wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd ("ECR Australia"), ECR Minerals (Queensland) Pty Ltd ("ECR Queensland") and Raglan Resources Pty Ltd ("Raglan Resources").

ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.

Raglan Resources has a mining lease at the Raglan alluvial gold project in central Queensland, Australia and ECR Queensland has two approved exploration permits over the nearby Blue Mountain alluvial gold project.  ECR is currently working towards bringing both projects into production.  ECR Queensland also has three approved exploration permits covering 946 km² over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, it has also submitted a licence application at Kondaparinga which is approximately 120km² in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects. 

ECR Australia also has approximately A$76 million of unutilised tax losses incurred during previous operations.

 

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